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Binance targets a return to Japan

The world’s largest crypto exchange, Binance, is seeking a license to operate in Japan, Bloomberg reports.

The exchange had pulled out of Japan four years earlier.

Bloomberg reports that Japan’s friendlier approach to crypto attracted Binance back to Japan.

Binance’s move syncs with Japan’s bid to adopt more Web3-friendly policies under its new prime minister, Fumio Kishida.

In a May speech in London’s financial district, Kishida further said that Japan “will develop an environment for the promotion of Web3, such as blockchain, NFTs and the metaverse.”

Should Binance return to Japan, it will face some stiff competition from the likes of Crypto.com and FTX already operating in Japan.

Binance last operated in Japan in 2018, before Japan’s Financial Services Agency (FSA) told it to stop trading as it didn’t have a license.

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